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Gbpusdsetup

GBPUSD: Waiting for new information!The Bank of England (BoE) is widely anticipated to raise its policy rate by an additional 25 basis points to 5.25% after the August meeting. However, such a decision alone may not be sufficient to stimulate the recovery of the British pound. The BoE needs to reassure markets that they will continue tightening their policy despite signs of easing price pressures. Furthermore, the British currency could gather strength if a policy statement reveals that some policymakers have voted in favor of a 50 basis point hike.
Long
by Sphyn-Trader
GBPUSD: Everything is gradually revealed before the new news!It is important to note that Fed Chair Jerome Powell recently stated that the economy still requires a slowdown and weakening labor market in order for inflation to confidently reach the 2% target. Additionally, the latest macroeconomic data from the United States indicates a remarkably resilient economy, leaving room for one more 25 basis points rate hike by the Federal Reserve in either September or November. This further supports the high yields seen in US Treasury bonds and reinforces the strength of the US dollar. Furthermore, a generally negative risk sentiment, as evidenced by a decline in US equity futures, further enhances the safe-haven status of the US dollar. However, at least for now, any downside pressure on GBP/USD is mitigated as markets have already factored in two additional interest rate hikes by Bank of England before year-end due to persistent price pressures. As such, all eyes will be on Thursday's crucial BoE monetary policy meeting as it remains an area of focus.
Long
by Sphyn-Trader
3
GBP/USD Reversal Anticipation - Long BiasOutlook for GU for a long reversal. I still believe we will be expecting new highs soon, to the Monthly FVG and quite possibly to the NWOG above it. I have some potential iFVGs that will be reused as support later on. For lower prices, I am anticipating retracement into the Daily Breaker Block, or back into the NWOG. There is a 2 Week FVG and Daily Order Block further down which I don't think we will get to but it is not out of the realm of possibility. My anticipation for higher prices is based on the liquidity residing above and the strong correlation in the COT reports. Always look for confirmation.
Long
by Road_2_Funded
4
GU: Remains under pressure around the 1.28 mark ahead of FOMCThe GBPUSD pair is facing downward pressure and struggling to make gains during the Asian trading session on Tuesday. Currently, the major pair is trading around the 1.2840 level, showing a 0.1% increase for the day. Market sentiment is cautious as we approach the Federal Open Market Committee's (FOMC) meeting scheduled for Wednesday. In July, US business activity experienced a slowdown, reaching a five-month low. The S&P Global Composite PMI dropped from 53.2 to 52. The US S&P Global Manufacturing PMI rose from 46.3 to 49, surpassing market expectations. However, the Services PMI decreased from 54.4 to 52.4, falling short of the anticipated 54. Additionally, the Composite PMI index fell to 52 from 53.2 in June.
Long
by Sphyn-Trader
3
7 Dimension Analysis For GBPUSD😇7 Dimension Analysis Analysis Time Frame: Daily 1: Price Structure: The current price structure is bullish, with an initial behavior of a Bullish Order Block (BoS). The move is considered corrective, and the inducement has already taken place and is now considered valid and high. There have been 2 pullbacks, and the extreme order block remains unmitigated. The daily time frame shows a confluence area of demand. 2: Patterns: 🟢TREND LINES: Trend lines are acting as support. 🟢CHART PATTERNS: A CIP (Change in Polarity) pattern is observed, with this supply area acting as CIP. A V-shape swing during the corrective move indicates a rapid impulsive recovery once the low is validated. 🟢CANDLE PATTERNS: Shrinking candles, with the 3rd candle losing size compared to the previous ones. A doji classic pattern, with the last candle closing as a doji. A record session count of 6 consecutive bearish candles, but the low is not yet confirmed. 3: Volume: Average volume observed. 4: Momentum RSI: 🟢The RSI is in a bullish zone. 🟢Currently in a bullish range shift. 5: Volatility Bollinger Bands: 🟢Middle band support and resistance levels are holding. 6: Strength ADX: Bulls are slightly stronger than bears, with a kiss and cross pattern at the moment. 7: Sentiment ROC: The rate of change is neutral, at 50/50. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: Bearish ☑️ Entry Move: Impulsive ✔ Support Resistance Base: H1 Order Block rejection. ➕ FIB: Activated ↕️ Trend Line Breakout: Confirmed. ☑️ Final Comments: Sell for a corrective move. 💡 Decision: Sell 🚀 Entry: 1.2853 ✋ Stop Loss: 1.2875 🎯 Take Profit: 1.2705 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 2 days Summary: The price structure is bullish, but currently in a corrective move. The trend lines are acting as support, and a CIP pattern is observed. Bulls are slightly stronger than bears, and the RSI is in a bullish zone. Selling is suggested for a corrective move, with an entry at 1.2853, stop loss at 1.2875, and take profit at 1.2705, providing a risk to reward ratio of 1:7.
Short
by Optimum369
GBPUSD TRADING IDEA Hello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:NATGASUSDLong
by ForexPlanet20
GBPUSD: CPI today with profit?After a volatile day of trading on Monday, GBP/USD is struggling to break free from the 1.3100 level on Tuesday as investors are cautious about making big moves before important economic data is released. Although GBP/USD experienced minor losses on Monday, the improved risk sentiment in the US session helped to minimize the losses. In the morning, the UK's FTSE 100 Index rose by 0.3%, while US stock indexes remained relatively stable, which enabled GBP/USD to maintain its position.
Short
by Sphyn-Trader
11